Power of branding in driving growth

Branding involves more than logos and slogans. It is now a value-centric strategic tool that dictates a company's sales performance. In the case of flourishing consumer options in Bangladesh, a brand that captures attention might make the difference between surviving and

thriving.

When a brand reliably conveys its values and assurances, trust is developed, leading buyers to make repeat purchases and eventually become loyal customers. It is the recognition bias in psychology that helps a brand achieve sales, as most buyers will purchase from a name they recognise and trust.

Positive emotions drive the purchase of a brand's products. Effective branding tells a story, engages customers on social media, or partners with social media influencers. Emotions trigger repeat sales and encourage customers to promote the brand to other potential buyers.

The importance of branding has been shown to decrease price sensitivity, especially for small businesses and start-ups, which can improve profit margins in the long run. Efforts towards branding should be prioritised as consumer markets in Bangladesh continue to develop.

Overall, positioning a business in the market is not merely a marketing activity; and, perhaps most importantly, it is a sales activity. In Bangladesh, positive brand recognition ensures intrinsic gains.

Md. Kamrul Ahsan Shamim

Department of Marketing

North South University